Merit Medical Systems (NASDAQ:MMSI) Given New $95.00 Price Target at Wells Fargo & Company

Merit Medical Systems (NASDAQ:MMSI) had its price target lowered by Wells Fargo & Company from $103.00 to $95.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an overweight rating on the medical instruments supplier’s stock.

Other equities analysts have also recently issued research reports about the company. Piper Sandler restated an “overweight” rating and issued a $109.00 price target (up previously from $105.00) on shares of Merit Medical Systems in a research report on Friday, October 31st. Zacks Research raised Merit Medical Systems from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Canaccord Genuity Group increased their price target on Merit Medical Systems from $103.00 to $104.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Raymond James Financial cut their price objective on shares of Merit Medical Systems from $108.00 to $102.00 and set an “outperform” rating for the company in a research report on Thursday, July 31st. Finally, Barrington Research raised their target price on shares of Merit Medical Systems from $103.00 to $106.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $104.50.

Merit Medical Systems Stock Down 2.6%

Merit Medical Systems stock traded down $2.31 during midday trading on Friday, reaching $85.09. The company’s stock had a trading volume of 1,281,801 shares, compared to its average volume of 648,099. The company has a quick ratio of 2.66, a current ratio of 4.09 and a debt-to-equity ratio of 0.49. Merit Medical Systems has a fifty-two week low of $78.12 and a fifty-two week high of $111.45. The business has a 50-day simple moving average of $84.26 and a 200-day simple moving average of $88.88. The company has a market cap of $5.04 billion, a P/E ratio of 43.19, a P/E/G ratio of 2.62 and a beta of 0.64.

Merit Medical Systems (NASDAQ:MMSI) last issued its earnings results on Thursday, October 30th. The medical instruments supplier reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.10. Merit Medical Systems had a net margin of 8.31% and a return on equity of 15.07%. The business had revenue of $384.16 million during the quarter, compared to analysts’ expectations of $371.69 million. During the same quarter in the prior year, the business posted $0.86 EPS. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. Merit Medical Systems has set its FY 2025 guidance at 3.660-3.790 EPS. On average, research analysts expect that Merit Medical Systems will post 3.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Merit Medical Systems news, Director Lynne N. Ward sold 3,000 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $88.56, for a total value of $265,680.00. Following the completion of the transaction, the director directly owned 12,809 shares of the company’s stock, valued at approximately $1,134,365.04. This trade represents a 18.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Merit Medical Systems

A number of institutional investors and hedge funds have recently modified their holdings of MMSI. Schonfeld Strategic Advisors LLC acquired a new position in Merit Medical Systems during the third quarter worth $574,000. Creative Planning increased its position in shares of Merit Medical Systems by 20.1% in the third quarter. Creative Planning now owns 33,213 shares of the medical instruments supplier’s stock valued at $2,764,000 after buying an additional 5,556 shares in the last quarter. Raymond James Financial Inc. boosted its position in shares of Merit Medical Systems by 1.4% in the 3rd quarter. Raymond James Financial Inc. now owns 566,826 shares of the medical instruments supplier’s stock worth $47,177,000 after buying an additional 7,761 shares in the last quarter. Freestone Grove Partners LP acquired a new stake in Merit Medical Systems in the 3rd quarter valued at about $314,000. Finally, Deerfield Management Company L.P. purchased a new position in Merit Medical Systems during the 3rd quarter valued at about $3,483,000. Institutional investors and hedge funds own 99.66% of the company’s stock.

Merit Medical Systems Company Profile

Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures in the United States and internationally. It operates in two segments, Cardiovascular and Endoscopy. The company provides micropuncture kits, angiographic needles, sheaths, guide wires, and safety products; peripheral intervention, including angiography, drainage, delivery systems, and embolotherapy products; spine products, such as vertebral augmentation, radiofrequency ablation, and bone biopsy systems; oncology products; and cardiac intervention products, such as access, angiography, electrophysiology and cardiac rhythm management, fluid management, hemodynamic monitoring, hemostasis, and intervention to treat various heart conditions.